The statistic shows the inflation rate in Australia from 1987 to 2022, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2022, the average inflation rate in Australia was at about 6.61 percent compared to the previous year.

Australia's economy

Australia has one of the world’s largest economies and is a significant global importer and exporter. It is also labeled as one of the G20 countries, also known as the Group of Twenty, which consists of 20 major economies around the globe. The Australian economy is highly dependent on its mining sector as well as its agricultural sector in order to grow, and it exports the majority of these goods to eastern Asian countries, most prominently China. Large quantities of exports have helped Australia maintain a stable economy and furthered economic expansion, despite being affected by several economic obstacles.

Australia’s GDP has seen a significant increase over the past decade, more than doubling its value, and experienced a rather quick recovery from the 2008 financial crisis, which indicates that the country experienced economic growth as well as higher productivity. One of the primary reasons is the further development of the nation’s mining industry coupled with the expansion and success of many Australian mining companies.

In 2021, the inflation rate in Samoa was estimated at negative three percent. In comparison, the inflation rate in Papua New Guinea was estimated at 4.5 percent in 2021 and was forecasted to fall to 3.6 percent by 2023.

Inflation Expectations in Australia decreased to 3.60 percent in March from 4.60 percent in February of 2025. This dataset provides - Australia Inflation Expectations- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Services Inflation in Australia decreased to 4.30 percent in the fourth quarter of 2024 from 4.60 percent in the third quarter of 2024. This dataset includes a chart with historical data for Australia Services Inflation.

The inflation rate in Australia was at 4.1 percent as of the fourth quarter of 2023. This was a decline of 3.7 percentage points from the high of 7.8 percent in the fourth quarter of 2022.

This dataset provides values for INFLATION RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In December 2023, the Consumer Price Index (CPI) in Adelaide, Australia recorded a change of 4.8 percent, higher than any other capital city in the country. The CPI measures household inflation. Hobart and Perth saw the lowest change with around three percent.

Australia Consumer Price Index (CPI): MoM data was reported at -0.240 % in Jan 2025. This records a decrease from the previous number of 0.805 % for Dec 2024. Australia Consumer Price Index (CPI): MoM data is updated monthly, averaging 0.283 % from Oct 2017 (Median) to Jan 2025, with 88 observations. The data reached an all-time high of 1.654 % in Jul 2020 and a record low of -1.240 % in Apr 2020. Australia Consumer Price Index (CPI): MoM data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.I002: Consumer Price Index: Sep 2017=100: Monthly.

Monthly CPI Indicator in Australia decreased to 2.40 percent in February from 2.50 percent in January of 2025. This dataset includes a chart with historical data for Australia Monthly CPI Indicator.

In 2020, the GDP shrunk by 2.4 percent in Australia, and inflation was at an all-time low at 0.9 percent over the last 20 years. In 2021, the GDP is predicted to grow by 4.5 percent, and inflation to grow by 1.7 percent. According to the forecast, the Gross Domestic Product and inflation will grow weakly over the next five years in Australia.

Graph and download economic data for Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Australia (CPGRLE01AUQ657N) from Q2 1971 to Q3 2023 about Australia, core, all items, CPI, inflation, price index, indexes, and price.

Key information about Australia Core CPI Change

• Australia Core CPI Change was reported at 2.715 % in Dec 2024.
• This records a decrease from the previous number of 3.104 % for Sep 2024.
• Australia Core CPI Change data is updated quarterly, averaging 2.591 % from Dec 1987 to Dec 2024, with 149 observations.
• The data reached an all-time high of 7.648 % in Dec 2022 and a record low of 0.434 % in Jun 2020.
• Australia Core CPI Change data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Core CPI: Y-o-Y Growth: Quarterly.

CEIC calculates quarterly Core Consumer Price Index Growth from quarterly Core Consumer Price Index. The Australian Bureau of Statistics provides Core Consumer Price Index with base 2011-2012=100. Core Consumer Price Index excludes Fruit and Vegetables and Automotive Fuel.

Australia Inflation:(GDP) Gross Domestic ProductDeflator data was reported at 6.512 % in 2023. This records a decrease from the previous number of 7.176 % for 2022. Australia Inflation:(GDP) Gross Domestic ProductDeflator data is updated yearly, averaging 3.825 % from Dec 1961 (Median) to 2023, with 63 observations. The data reached an all-time high of 16.490 % in 1975 and a record low of -0.663 % in 2016. Australia Inflation:(GDP) Gross Domestic ProductDeflator data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.;World Bank national accounts data, and OECD National Accounts data files.;Median;

Graph and download economic data for Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: All Items Non-Food Non-Energy for Australia (CPGRLE01AUQ659N) from Q2 1971 to Q4 2024 about Australia, core, all items, CPI, inflation, price index, indexes, and price.

Australia Consumer Price Index (CPI): YoY data was reported at 2.568 % in 2026. This records an increase from the previous number of 2.258 % for 2025. Australia Consumer Price Index (CPI): YoY data is updated yearly, averaging 3.286 % from Dec 1961 (Median) to 2026, with 66 observations. The data reached an all-time high of 15.417 % in 1974 and a record low of -0.319 % in 1962. Australia Consumer Price Index (CPI): YoY data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Australia – Table AU.OECD.EO: Consumer and Wholesale Price Index: Forecast: OECD Member: Annual. CPI_YTYPCT- Headline inflation The CPI year-on-year changes is a measure of inflation

Over the twelve months preceding December 2023 quarter, the Consumer Price Index (CPI) in Australia grew 4.1 percent. This is a drop of 3.7 percent from the previous December. The CPI measures the average change in prices of a fixed basket of goods and services, purchased by household residents in Australia's eight state and territory capital cities.

Graph and download economic data for Consumer Price Index: All Items: Total for Australia (AUSCPALTT01IXNBQ) from Q1 1960 to Q3 2023 about Australia, all items, CPI, price index, indexes, and price.

Key information about Australia Consumer Price Index CPI growth

• Australia Consumer Price Index (CPI) growth was measured at 2.4 % YoY in Dec 2024, compared with a rate of 2.9 % in the previous quarter.
• Australia Consumer Price Index growth data is updated quarterly, available from Dec 1987 to Dec 2024, with an averaged number of 2.5 % YoY.
• The data reached an all-time high of 8.5 % YoY in Mar 1990 and a record low of -0.3 % YoY in Jun 2020.

The Australian Bureau of Statistics provides Consumer Price Index Growth with base 2011-2012=100. [COVID-19-IMPACT]

Australia Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data was reported at 7.115 % in 2022. This records an increase from the previous number of 2.801 % for 2021. Australia Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data is updated yearly, averaging 2.717 % from Dec 1990 (Median) to 2022, with 33 observations. The data reached an all-time high of 7.115 % in 2022 and a record low of -0.605 % in 2016. Australia Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.;World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.;;

Australia Inflation Target: Upper Limit data was reported at 3.000 % in 2025. This stayed constant from the previous number of 3.000 % for 2024. Australia Inflation Target: Upper Limit data is updated yearly, averaging 3.000 % from Dec 1996 (Median) to 2025, with 30 observations. The data reached an all-time high of 3.000 % in 2025 and a record low of 3.000 % in 2025. Australia Inflation Target: Upper Limit data remains active status in CEIC and is reported by Reserve Bank of Australia. The data is categorized under Global Database’s Australia – Table AU.I001: Consumer Price Index: Inflation Target.